Released: 03 May 2021
April Sales Managers Survey Reflects Continuation of Global Growth
The Sales Managers Indexes relating to economic growth (the Confidence, Market and Sales related indexes) all continued to show modest growth in the 51-53 range in April. Given the problems evident in India the continuation of growth in the three (collectively) previously greatest influencers on global growth is encouraging.
The positive story told by the sales related indexes is not yet fully supported by the Staffing Index, which lingers under the 50 ‘no growth’ line. This Index, having stayed well below the 50 level since the arrival of Covid in early 2020, has reflected a largely continuous fall in employment levels. The rate of decline has lessened in recent months, providing hope that the fabled green shoots of recovery are not long to be denied, and April data does indeed suggest that relief is on the way, but not quite with us yet.
On balance an encouraging story leading to the hope that May data will provide stronger signs of economic activity rising out of the mire of the last year. But much remains uncertain due to the dreadful ravages of Covid remaining and probably growing for some months to come, in India..
Global Business Confidence Index
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